In the last week, Huobi Global has announced that it is now listing Ripple’s XRP, a cryptocurrency that appears to be going from strength to strength despite a difficult cryptocurrency market. Huobi Global is adding XRP to its Over the Counter Market (OTC), thus creating a new trading pair within its existing platform, enabling XRP to be trading against 24 different currencies.
Huobi, a US based major cryptocurrency exchange, was awarded a DLT Provider license by the Gibraltar Financial Services Commission in December 2018, enabling it to operate from Gibraltar.
Ripple, XRP’s parent company, is focusing on the development of cross-border payments for the financial and banking sector, reducing costs and speeding up transactions. Ripple is a US based technology company, founded in 2012 and based in San Francisco. It has developed the Ripple payment protocol and exchange network to connect banks, payment providers, digital asset exchanges and corporates through its RippleNet.
The XRP cryptocurrency can be used by account-holders to send or receive XRP to and from each other and XRP can also be used to send fiat currency, resulting in faster payment settlements and lower foreign exchange costs. XRP offers banks and payment providers an on-demand real-time option to access liquidity for cross-border payments. The cryptocurrency regularly deals with some 1,500 transactions per second..
XRP appears to be steadily increasing in popularity, with its prices experiencing little in the way of volatility. It is one of the biggest cryptocurrencies by market capitalization and exchanges, keen as they are to hunt down more profits, are eager to add XRP to their listings. Coinbase is one, having announced the addition of XRP to its platform just in the past couple of weeks. There is a growing expectation that more cryptocurrency exchanges will begin offering XRP as a trading pair, given the boost it has been given in recent weeks.